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Digital Realty unit to repurchase $500M of its 5.875% senior notes due 2020

Digital Realty Trust Inc.'s operating partnership, Digital Realty Trust LP, launched a tender offer to buy all $500 million of its outstanding 5.875% senior notes due 2020.

The estimated tender offer consideration per $1,000 principal amount of the notes is roughly $1,023, as of Jan. 10, and the offer will expire Jan. 17, unless extended or terminated. Settlement is expected to occur Jan. 18.

The operating partnership retained Global Bondholder Services Corp. as the tender agent and BofA Merrill Lynch as the dealer manager for the offer.

Separately, the data center-focused real estate investment trust said Digital Euro Finco LLC, a subsidiary of the operating partnership, has started offering euro-denominated green bonds. The notes will be senior unsecured obligations of Digital Euro and will be fully and unconditionally guaranteed by both Digital Realty and its operating partnership.

Net proceeds from the green bond issuance will be used to finance or refinance green building, energy and resource efficiency, and renewable energy projects. The proceeds may also be used to pay capital management activities or outstanding indebtedness, including repurchasing the outstanding 5.875% senior notes and borrowings under the operating partnership's global credit facilities.